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Guest Opinion: #LiveLoveland and the Centerra Connection

By Don Overcash

Posted:
02/01/2018 10:43:07 PM MST

Don Overcash

More than 300 community leaders and citizens gathered at the Rialto on the evening of Jan. 17 to officially launch #LiveLoveland ( www.liveloveland.org). The goals of the #LiveLoveland campaign are twofold: help people better understand and appreciate this delightful city, and encourage residents to become more involved in our community.

The promotion, in the making for nearly two years, has been driven by citizens committed to focusing on the positive attributes of the community and built around four themes: vibrant arts and culture, unending recreation opportunities, economic vitality, and a world-class education system.

My objective for writing this guest opinion is to support the #LiveLoveland campaign by calling attention to some facts about Centerra. Additionally, I hope to highlight how the themes of this new campaign have been and continue to be supported by this public/private relationship.

At the Nov. 21, 2017, Loveland City Council meeting, I introduced a request to invite McWhinney (Centerra) to provide a review for the new council of the past, present and future vision of Centerra. We received that update on Jan. 16, one day before the #LiveLoveland kickoff event. The presentation can be accessed on my Facebook page, Don Overcash City Councilor Ward 4, or directly at the city web site cilovelandco.civicweb.net/Portal/.

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In 2004, a contract was entered into commonly referred to as the Master Financing Agreement (MFA) between the city of Loveland and Centerra. The Loveland City Council unanimously approved the establishment of the Urban Renewal Authority; the county voted unanimously to support the establishment, and the Thompson School District also supported this action.

Since that decision in 2004, the relationship has been managed by seven city councils, four mayors and three city managers. The goals established that drove the decision process were centered around regional transportation improvements, tax growth revenue, and employment — specifically primary jobs.

Following is a partial listing of results realized as an outcome of the MFA:

•Capital infrastructure completed — $131.3 million.

•Retail sales (Centerra overall) of $4 billion since 2004.

•City sales tax receipts of $45 million since 2004, with $4.5 million received in 2017.

•60 percent of shoppers coming from outside of Loveland.

•Since 2004, 3.1 million square feet of retail, office and commercial buildings constructed, representing approximately $463 million in actual property value, not including the Medical Center of the Rockies.

•More than 7,000 jobs in Centerra, producing $200 million in annual payroll.

•$17.6 million in funding for Thompson School District, which made the High Plains STEAM school a reality and helped fund important improvements at Mountain View High School.

I'm thrilled with the results achieved with the 2004 MFA and appreciate the 2004 City Council and McWhinney for entering into that agreement. This information makes clear the advantages of this partnership and Centerra's contribution. With sustainable economic vitality, it will be possible to maintain Loveland's vibrant arts and culture, unending recreation opportunities, and education system.